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PRECIOUS-Gold lingers near one-month low as dollar strength weighs

    Oct 29 (Reuters) - Gold was little changed on Thursday,
trading near a one-month low hit in the previous session, as
fears of the economic impact from a fresh wave of the novel
coronavirus in Europe kept the dollar around a one-week high it
hit on Wednesday.
    
    FUNDAMENTALS
    * Spot gold        was little changed at $1,877.83 per ounce
by 0050 GMT, after falling as much as 2% on Wednesday.
    * U.S. gold futures        were flat at $1,879.60.
    * The dollar index        was steady against a basket of six
major currencies, pausing after clocking a gain of 0.3% in early
trade.                     
    * French President Emmanuel Macron and German Chancellor
Angela Merkel ordered their countries back into lockdown on
Wednesday, as a massive second wave of infections threatened to
overwhelm Europe before the winter.             
    * The European Central Bank is expected to resist pressure
to unveil fresh stimulus measures on Thursday but it will likely
pave the way for action in December. The ECB will announce its
policy decision at 1245 GMT.             
    * The Bank of Japan is set to maintain its massive stimulus
programme on Thursday and vow to take further action if the
virus-led economic fallout threatens a return to deflation.
            
    * There is a high risk the resurgence in coronavirus cases
halts the global economic recovery by year-end, according to
Reuters polls of around 500 economists.             
    * Holdings in SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund, fell 0.67% to 1,258.25 tonnes
on Wednesday.             
    * Silver        rose 0.1% to $23.43 per ounce, while
platinum        dipped 0.1% to $866.96. Palladium        was up
0.7% at $2,254.02. 
   
    DATA/EVENTS (GMT)
    0855  Germany  Unemployment Chg, Rate SA      Oct
    1000  EU       Consumer Confid. Final         Oct
    1230  US       GDP Advance                    Q3
    1230  US       Initial Jobless Clm            Weekly'
    1245  EU       ECB Refinancing, Deposit Rates Oct
    1300  Germany  CPI, HICP Prelim YY            Oct

 (Reporting by Eileen Soreng in Bengaluru; editing by
Uttaresh.V)
  
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